ETH, wstETH, ezETH and rsETH Incentive Program - Prime, Arbitrum & Base
Summary
This publication presents the joint incentive program by Lido, Aave, Renzo and Kelp across three instances of Aave v3 to last 90 days with rewards updated and claimable at 30 day intervals.
Qualifying users are to receive a variety of tokens and points claimable via ACI’s website and the respective communities TGE airdrop website.
Liquidity Mining Program
Across Prime, Arbitrum and Base instances of Aave v3, qualifying users will earn a fixed incentive yield up to a certain AUM threshold. Above the Target AUM threshold, rewards are distributed pro-rata.
Each Epoch has a Target AUM and pre-defined rewards budget ensuring a fixed incentive APR is maintained up to a defined Target AUM. There is one exception, Kelp will provide x2 points for qualifying rsETH deposits.
When the AUM exceeds the Target AUM, rewards are distributed pro-rata to prevent over spend. The Target AUM and Budget can be adjusted each Epoch to encourage continued growth.The chart below shows the relationship between the incentive rewards APR and Target AUM.
The chart above shows the Arbitrum incentive spend and APR. The kink in the chart occurs at the Target AUM. Users earn 0.75% incentive yield until the wstETH Reserve achieves 53k wstETH in deposits, from this point in time onwards whilst the deposits exceed 53k wstETH the yield reduces proportionally with new deposits.
Epoch #1
The below table summarises key dates for Epoch 1 of 3 over the initial 90 day program.
| Epoch #1 |
|
| Start Timestamp |
19th February 2025 12:00 UTC |
| Duration |
30 days |
| Rewards Claimable |
24th March 2025 |
Rewards are claimable via the Aave Chan Initiative website linked below every 30 days.
A 180 window will be available for users to claim rewards.
Note: Users have 6 months to claim rewards before they are forfeit.
Liquidity Mining Rewards
Each section below provides an overview of each teams incentive offering:
ETH
Aave’s Ahab program is to provide incentives for qualifying wETH deposits on Prime and Arbitrum Aave v3 deployments.
| Parameter |
Prime |
Arbitrum |
| Incentive APR |
1.00% |
0.50% |
| Target AUM (ETH) |
192k |
153k |
| Reward Asset |
ETH aToken |
ETH aToken |
Eligibility Criteria
Users are subject to the following eligibility criteria:
Eligible Holding = ETH aToken Holding - Undesired Debt Token Holding / ETH Liquidation Threshold
Undesired Debt Token(s):
ie: Users who loop ETH collateral with ETH debt will be penalised.
wstETH
The Lido Rewards Committee encourages qualifying wstETH deposits on Arbitrum and Base instances of Aave v3.
| Parameter |
Arbitrum |
Base |
| Incentive APR |
0.82% |
0.82% |
| Target AUM (wstETH) |
53k |
32k |
| Reward Asset |
wstETH aToken |
wstETH aToken |
Expected Deposit Rate assuming 88% utilisation of each wstETH Reserve:
- 0.75% Incentive APR
- 0.61% Native Yield APR (assuming utilisation is near Uoptimal)
- 2.90% wstETH Index Rate
- 4.26% Total Yield
Eligibility Criteria
Users are subject to the following eligibility criteria:
Eligible Holding = wstETH aToken Holding - Undesired Debt Token Holding / wstETH Liquidation Threshold
Undesired Debt Token(s):
ie: Users who loop wstETH collateral with wstETH debt will be penalised.
ezETH
The Renzo community presents REZ rewards to qualifying ezETH depositors on Prime, Arbitrum and Base instances of Aave v3.
| Parameter |
Prime |
Arbitrum |
Base |
| Incentive APR |
0.30% |
0.30% |
0.30% |
| Target AUM (ezETH) |
275k |
58k |
35k |
| Reward Asset |
REZ |
REZ |
REZ |
To determine the amount of REZ distributed each 30 day period, the 7DMA closing price on Coingecko will be used.
Eligibility Criteria
Users are subject to the following eligibility criteria:
Health Factor = Less than 2.0
rsETH
The Kelp community presents KERNEL points to qualifying rsETH depositors on Prime, Arbitrum and Base instances of Aave v3.
| Parameter |
Prime |
Arbitrum |
Base |
| Incentive APR |
x2 Points |
x2 Points |
x2 Points |
After Kernel’s TGE, x2 points will be replaced by KERNEL emissions.
Eligibility Criteria
Users are subject to the following eligibility criteria:
Health Factor = Less than 2.0